However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam.
BUDAPEST, Hungary (AP) — An imposing bronze statue was unveiled in Hungary’s capital on Thursday which its creators say is the first in the world to pay homage to the anonymous creator of the Bitcoin digital currency.
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“We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said on Twitter...
Yet in some ways, the crypto crowd were not wrong. In the almost 18 months since Covid-19 was declared a pandemic, the price of bitcoin has risen by about 525 per cent, from just under $8,000 to a three-month high just above $50,000 on Monday. XRP has climbed by a similar amount to trade around the $1.25 mark.
But while it’s based on sound, democratic principles, cryptocurrency remains a technological and practical work in progress. For the foreseeable future, nation-states’ near-monopoly on currency production and monetary policy appears secure.
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SHIBA Inu coin was up in the early hours of Thursday as Bitcoin fell after fears of a "crash".
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But no true cryptocurrency emerged until the late 2000s when Bitcoin came onto the scene.
A layer-one smart contract platform, Fantom, is another take on smart blockchain commonly represented by Ethereum, Solana and the likes. However, its compatibility with the ERC20 standard ensures that users can purchase an Ethereum-compatible FTM token, which can be converted to a native FTM compatible token once they initiate a transfer to their wallet.
As with most cryptocurrencies, there have been mixed reviews so far with one reddit user saying: “I completely agree that once they get listed on an exchange this could easily blow up.”
The former head of the Office of the Comptroller of Currency (OCC), Brian Brooks, resigned as CEO of Binance.US last week, The Wall Street Journal reported Friday, citing a post from him on the social media platform Twitter. Brooks had only recently joined the company in the role on May 1.
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